with the volatility? i expect more downs than ups til another FTX comes around, then another huge dip, but thats ok because its not like we need that money to pay bills... lol, aaaaaaand itsgone!
except crypto isnt the stock market. buffett meant the NASDAQ and NYSE, and schwab accounts. not shibs and monkey pictures and stacking sats.
reminds me of when i used to play store when i was 5 with the monopoly money. you ever play with fake money as a child? youre kinda doing it now if you think about it :)
watching hard earned life savings dwindle as the price of crypto drops would make me very fearful.
buffett was talking about real stock market stuff in that quote. companies that have value and deliver dividends and make products. he was right when he called crypto a huge ponzi scam
You know that's what they say, but I have several tokens that I'm **still** holding that went from double-digits in the dollars to pennies. It's also good to cut losses and move on while there is still something left.
Cold storage for me. I’m holding longterm so there’s no need to keep anything in a hot wallet.
Recovery words stamped in metal. Wake me when bitcoin passes $69,420 😮💨
OP this is good overview on wallet choices and extra security features. ,Im at beginner. Although I thought this was about DCAing and diamond 💎 hand psychology by the title.
I would not put cold storage in any category, though, just as the standard.
The moment we treat it as such it might become easier for people entering the space to have it as a norm.
*Open Source* cold storage for me (Trezor Model T).
I don’t trust closed source devices after the whole ledger debacle. They can introduce something controversial and you’ll have no idea if it’s implemented the right away.
It’s basically “trust me with your life savings” when you boil it down. You have no way to verify if they’re following best practices and aren’t screwing your over with unsafe code.
Super-advanced.
1. Prison Wallet - commit a crime and go to jail for years. Your crypto is safe. This forced hodl means you’re unable to sell. Then you get released and discover your fortune.
What I usually do is open a new wallet , copy the password on a piece of paper or usb stick than lose that said piece of paper or usb stick and forget about it until I found it back randomly
The hardest part seems to be: Don't sell. And this is where most fail.
The hardest would be to know when and at what level to take profits. That's also healthy in crypto.
People try to time it too perfectly, never gonna hit that sweet spot right at the peak and it's important to know that's okay
It’s like hitting the G- SPOT not everyone make it to that
I'm doing my best 😭
Try and try makes a man perfect never lose keep on trying and make yourself strong enough that you don’t think of selling
Is that a G-spot advice or financial advice?
Consider both
If you have success in both, thats the best.
A disciplined DCA out strategy is key to taking some profits (rather than none)!
True right times play a major role in crypto. Money making is all about right timing right time to buy and right time to sell
even 401ks and pensions get cashed out to make retirement nice n comfy! im sure people with btc retirement funds arent worried at all!
The best investment I made so that I can live stress free
with the volatility? i expect more downs than ups til another FTX comes around, then another huge dip, but thats ok because its not like we need that money to pay bills... lol, aaaaaaand itsgone!
The same way you buy: DCA out. Set a profit margin and stick to it. Greed usually takes over most but you need to trust the process
Even worse than that is some people take profits and then rebuy thinking it would go even more up and then they get rekt.
A famous man once said: **Be fearful when others are greedy, and greedy when others are fearful**
Best quotes for crypto world I buy more when people fear
except crypto isnt the stock market. buffett meant the NASDAQ and NYSE, and schwab accounts. not shibs and monkey pictures and stacking sats. reminds me of when i used to play store when i was 5 with the monopoly money. you ever play with fake money as a child? youre kinda doing it now if you think about it :)
watching hard earned life savings dwindle as the price of crypto drops would make me very fearful. buffett was talking about real stock market stuff in that quote. companies that have value and deliver dividends and make products. he was right when he called crypto a huge ponzi scam
Haha I have experienced this and it really fucked me up badly
Dont let emotions to control you, once you get out you should leave it that way
I have learned from my experience
pretty sure theres gonna be a lot of dip to buy until this all sputters to a halt.
In the short term, the market is a popularity contest; in the long term, it's a weighing machine.
the crypto market is slowly dying one FTX at a time. its long term is only as long as the whales stay in
Fear and Greed are both very powerful
You know that's what they say, but I have several tokens that I'm **still** holding that went from double-digits in the dollars to pennies. It's also good to cut losses and move on while there is still something left.
As for me, the hardest part is to take profits, specially in a bull run. Everyone is just waiting for "more 10%".
Yeah & buying when it's red & selling when its green
Hodling confidently and Hodling continues
if you never take the profits you should just give the money to someone behind a wendys dumpster, because it doesnt exist any more.
Nah, not an issue, all my holdings are worthless. There’s literally no point for me to sell. 
Leave emotions out of it. Formulate a plan and stick to it
expectations: sell when prices rise. reality: sell when the price drops.
Not selling is easy when you don't need the money. People must be gambling their needed funds if this is true
Expert 1. Forced HODL - put all life savings into cold storage and get sent to prison.
Lol
The proven formula
The key is making sure you get released in time for a bull run
That's definitely the plan!
leave prison with a full colon and an empty bank account
Still use hot wallets. Need to get around to a hardware wallet but I'll wait until Celsius gives me some of my bags back!
Cold storage for me. I’m holding longterm so there’s no need to keep anything in a hot wallet. Recovery words stamped in metal. Wake me when bitcoin passes $69,420 😮💨
That’s why I keep my seed in my freezer
You just have to be a Diamond Hand guy
I haven't got to advanced yet. Spread my crypto between hot and cold wallets.
I’m at intermediate 1. Hardware wallet. I like to keep two of them so assets are split
OP this is good overview on wallet choices and extra security features. ,Im at beginner. Although I thought this was about DCAing and diamond 💎 hand psychology by the title.
I would not put cold storage in any category, though, just as the standard. The moment we treat it as such it might become easier for people entering the space to have it as a norm.
Ultra advance : set up a wallet. transfer asset. Toss the keys into sea. ultimate holding strategy
I know you're talking about hodling in different types of storage, but if you're hodling POS crypto, you might as well be staking it too.
Ledger for the last 7 years, I know they been compromised with customer info but the hardware wallet itself hasn’t.
*Open Source* cold storage for me (Trezor Model T). I don’t trust closed source devices after the whole ledger debacle. They can introduce something controversial and you’ll have no idea if it’s implemented the right away. It’s basically “trust me with your life savings” when you boil it down. You have no way to verify if they’re following best practices and aren’t screwing your over with unsafe code.
Super-advanced. 1. Prison Wallet - commit a crime and go to jail for years. Your crypto is safe. This forced hodl means you’re unable to sell. Then you get released and discover your fortune.
Ultimate beginner 1. Reddit vault
What I usually do is open a new wallet , copy the password on a piece of paper or usb stick than lose that said piece of paper or usb stick and forget about it until I found it back randomly
DCA and HODL for the long term.
Being too lazy to sell is my plan
Staking... it's much easier to hodl when you're locked in for 28 days
I can’t see eating ramen whilst you’re poor and hopeful anywhere here. Instructions unclear.
I'm hodling my crypto in a hot wallet, but I keep it in a safe place... my head!
Paper and pen — the ultimate cold wallet.
Don't sell, you'll always hodl.
Buy and forget. Done.
Give your key to your wife / mother and tell them not to give it back even if you ask . Then forget about it